It would be Mill Creek’s second rental development in the area. The builder began work in 2015 on a five-story, 321-unit apartment complex across from the Galleria Towers, and the Modera Apartments are now mostly leased, the DMN added.

The 430-acre Dallas Midtown project is valued at roughly $4 billion and includes the demolition and redesign of Valley View Mall, as well as office space, a hotel, and entertainment and retail space. The project lies between the Dallas North Tollway, LBJ Expressway, Spring Valley Road and Montfort Road.

It has attracted high-profile developers like New York City-based Seritage Growth Properties, which has teamed up with Dallas-based KDC to build up to 1 million square feet of office space at the mall’s now-empty Sears store.

"Seritage’s plans are going to be a transformational project that converts the Sears site into a highly-productive office and first-class retail, dining and entertainment destination," James Bry, executive vice president of development and construction for Seritage, told the Dallas Business Journal in December.

Midtown has also been proposed as a site for Amazon’s HQ2 campus. In September, the project’s stakeholders, including Seritage and KDC, unveiled a proposal for a 100-acre urban campus next to “Amazon Park” within Midtown.

But disagreements over zoning and public sector incentives have presented road blocks to Midtown’s further redevelopment, the DMN notes.